The research objective was to determine the impact of capital expenditure on textile firm’s profitability in Pakistan. For this purpose, study utilizes panel data from the annual reports of firms operating in the textile sector of Pakistan. Quantitative research approach and longitudinal research design was applied. The panel data results indicates that the impact of capital expenditures on firm profitability is significant and positive. The findings suggest that increasing capital expenditures can lead to higher profitability for textile firms in Pakistan. This implies that textile firms in Pakistan should prioritize investments in capital expenditures in order to improve their financial performance. The findings provided by this research could be valuable for textile firms in Pakistan as they seek to make strategic investment decisions. Additionally, policymakers and investors in the textile sector can use the results of this study to inform their decision-making processes and optimize investment strategies. The study's findings could also contribute to a better understanding of the relationship between capital expenditures and firm profitability in the textile sector of Pakistan. The research could also helped to the researchers to conduct their research in future.
Investment decisions within the organizations are critical for firm’s profitability and also have a long-term impact because many of these decisions are irreversible. Firms with limited funds can achieve impressive returns if their investments are well-planned. Therefore, the research objective is to determine the impact of investment decisions on firm profitability (earning per share) of non-financial sector (Communication, media industry, energy sector etc.) of Pakistan. For this purpose, data was collected for the period of 2011-2021 from the annual reports of non-financial companies which were listed in 100 index Pakistan Stock exchange. The quantitative research approach, longitudinal research design and panel data approach has been used in the study. The panel data results indicates that working capital management (WCM) indicators namely inventory turnover ratio (ITO), average collection period (ACP), average payment period (APP) and cash conversions cycle (CCC) have positive and significant effect on earnings per share. In the same vein, capital expenditure also have positive and significant effect on earnings per share and also has indirect effect through the mediating effect of sales growth which indicates partial mediation because the coefficient after mediation was lower as compared to the direct effect. Based on the findings, the research has contributed a body of literature in the extant literature along with the significant and mediating effect. Therefore, this study could be considered to be a pioneer study that could help the researchers to conduct their research in future. This study could also help to the managers and decisions makers to know about the importance of investment decisions to increase firm profitability.
The purpose behind conducting this study was to examine the relationship among democracy, human resource development and income inequality in developing countries. For this, the study specified three econometric models. The study used panel data for the period 1995 to 2016. First, we have checked the stationarity of variables through Levin, Lin chu (LLC) and IPS test. We used three stage least square (3SLS) for our analysis. Results of model 1 found that income inequality, corruption, and the population had a negative effect on democracy, while human resource development and GDP per capita have a positive effect. In Model-II, income inequality, unemployment and inflation had a negative effect on human resource development, while foreign direct investment, remittances, and democracy had a positive effect. In Model-III results found that human resource development, democracy, GDP per capita and corruption were related negatively to income inequality, while inflation was positively related to income inequality.
Islamic finance is growing rapidly not only in Islamic world but also around the globe. Foreseeing the popularity of Islamic finance, the current study intends to explore the relationship between Islamic financing and economic growth. To entertain the objectives, the study used data of United Arab Emirates, Malaysia, and Indonesia for the years 1980-2018. The ARDL approach to co-integration was used in order to obtain the empirical results for exploring the relationship between the Industrial Production Index, Islamic banks deposits, Islamic bank financing, gross fixed Capital formation, trade openness, government expenditures, and inflation. Industrial production index is taken as a proxy of growth that represents real sector growth. Study findings illustrated a strong positive relationship between industrial production indices, Islamic bank deposits & financing, gross fixed capital formation and negative significant relation with trade openness in the study period. Whereas, government expenditure has insignificant relation and inflation has shown negative relation. It is recommended that Islamic banks should design their deposit instruments in terms of long-run. The Islamic banks may follow the path of conventional banking in this regard. Deposit’s negotiable certificates should be issued similar to the conventional banks.
To foresee hidden regimes inside the data, Hidden Markov Model is widely used. Many researchers had used various data mining methods to predict stock market prices. This research will describe usage of Hidden Markov Model (HMM) via MATLAB to forecast stock prices for stock’ selection and portfolios development. In this study listed companies of PSX (Pakistan Stock Exchange) are explored specifically KSE-100 Index companies. From January 2012 to June 2022 monthly closing stock prices are used in this study. Many studies based on the historical data have been conducted in developed markets, but we managed the contextual study of the Pakistan Stock Exchange to recognize the stream and variations happening for individual stocks in stock market of Pakistan. Outcomes of the research suggested a strong relationship between stock prices as projected by the Model.
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